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sallie mae question

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Kitty Hawk is a ADN, RN and specializes in hospice, ortho,clinical review.

1 Article; 10,020 Profile Views; 541 Posts

Hello...

I am considering either a nextstudent loan or the tuition answer by sallie mae.

I'm a little concerned with the horror stories on the net about sallie mae, however the 20/20 story was a year ago!

I'm thinking maybe it was just inexperienced students thinking they could "get out" of their loan obligations and just weren't making the payments vs honest hardworking people that really got scammed and in over their head..but I'm not sure.

I like what I've read about nextstudent so far...but I'm not sure how they fare in reliabilty, if they sell the loans etc...doesn't seem like they've been around that long.

Any experiences would be great.

TIA

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RNDreamer specializes in acute care.

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Do a search on sallie mae within this site..I forgot where on the site it is, might be in this forum, but some people have spoken of it..I actually recently applied for a tuition answer loan because of the info I received from that thread..I am starting school in july and the only aid I got was workstudy so I need this loan to pay my tuition. Good luck

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10 Posts; 770 Profile Views

I've been in school for 5 years now (switched majors 4 years in) and I've had sallie mae loans the entire time. I haven't had any problems with them so far. Also during the summers if I wasn't working they didn't give me problems about defering the loan. I don't know anything about the other loan. Hope it all works out.

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41 Posts; 2,282 Profile Views

I had problems with Sallie Mae when I first graduated with my bachelors degree (in accounting ...hehe). The problem I had was with the interest rates. I consolidated my loans at a fixed interest rate. If you sign up for automatic debit your interest rate is decrease 1/2%. This is were my problem was. They were not decreasing my interest rate. I must have called about 10 times and it was about 3 months later until the problem was resolved. Then they accidently put my loans in defferment, which messed up the interest rates again. So I had to go through everything again. Eventually, I didn't get everything all worked out and they are ok now.

Also, don't give them your email address. Since I gave them my email address, everything was arranged on line. I never got a coupon book, so I never knew when my first payment was due. When I called them, they said I would have to log online to find out that info, even though I was never registered to their site.

This time around I am not getting my student loans or anything from Sallie Mae, but that is just me. You might have a better experience. I will need to take out private education loans since I already have a BS. My school recommends Wachovia. It looks pretty good. They don't have any fees associated with their loans, which is good.

I hope all turns out well for you!

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MikeyJ is a RN and specializes in Peds, PICU, Home health, Dialysis.

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I have traditionally always went through CitiBank -- their student loan program is titled "CitiAssist". I absolutely LOVE CitiBank -- very easy, a very user-friendly online loan management site, and very easy to get approved with a co-signer and low interest rates.

This past semester I decided to try SallieMae to see if I could get a lower interest rate and it was lower by .25%. However, I had the worst troubles with them. Their customer service staff was never able to help me, and it took FOREVER to get my loans disbursed to my school (I had to pay late fees because of them). Thus, I have since gone back to CitiAssist.

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2,441 Posts; 14,294 Profile Views

Sallie Mae sells a TON of their loans, and it sells them to these little fly-by-night companies with customer service so substandard, they will tell anyone anything.

My husband actually overpaid on his student loan for 3 years, because they kept saying it wasn't paid off. When he finally took his papers to a finance specialist, that was when the error was discovered.

He didn't get his money refunded, the company that bought his loan was in Delaware (where like South Dakota, there are tons of laws offering huge legal protection to hese companies), and when he threatened to sue, they told him, "Enjoy your flight to Delaware" and hung up on him.

It would have cost more money to sue them, than what he paid...and they darn well knew it.

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abundantjoy07 is a RN and specializes in ER, Medicine.

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Sallie Mae sells a TON of their loans, and it sells them to these little fly-by-night companies with customer service so substandard, they will tell anyone anything.

My husband actually overpaid on his student loan for 3 years, because they kept saying it wasn't paid off. When he finally took his papers to a finance specialist, that was when the error was discovered.

He didn't get his money refunded, the company that bought his loan was in Delaware (where like South Dakota, there are tons of laws offering huge legal protection to hese companies), and when he threatened to sue, they told him, "Enjoy your flight to Delaware" and hung up on him.

It would have cost more money to sue them, than what he paid...and they darn well knew it.

WOW!!! That is beyond crap.:angryfire

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2,441 Posts; 14,294 Profile Views

WOW!!! That is beyond crap.:angryfire

Yup, because the way the laws are, the protect the creditor, not the debtor.

If everyone took out their credit card statements (any, just pick them out), you'll discover that a huge amount these companies are located in South Dakota and Delaware. That is because other states have laws protecting the consumer.

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